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Richard Braverman Embroiled in His Third Unsuitability Dispute

Mar 11, 2022 Unsuitable Investments

Richard Braverman (CRD #:1023227), a broker and investment advisor registered with Geneos Wealth Management, is involved in his third unsuitability dispute, according to his BrokerCheck record, accessed on February 20, 2022. He also provides advisory services through his company Braverman Financial Associates.

Investor Allegations

According to the allegations filed on December 3, 2021, Richard Braverman recommended unsuitable investments in 2017. The investor is seeking $200,000一the dispute is still pending.

This is Richard Braverman's third dispute alleging unsuitable investment recommendations. In both 2021 and 2020, he was involved in similar disputes alleging unsuitable investment recommendations. The cases were settled for $275,000 and $90,000.

What are Unsuitable Investments?

FINRA Rule 2111 defines suitable investments as securities that fit an investor's profile. An investor's profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

  • Investments can be unsuitable because they are high risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

Background Information

 Richard Braverman has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 22 - Direct Participation Programs Representative Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination
  • Series 24 - General Securities Principal Examination

Richard Braverman is a registered broker in 21 states. He is also a registered investment advisor in Texas and Pennsylvania. 

 Richard Braverman has also worked with the following firms:

  • FSC Securities Corporation (CRD#:7461)
  • Royal Alliance Associates (CRD#:23131)
  • Keogler, Morgan & Company (CRD#:16546)
  • Hibbard Brown & Co.(CRD#:18246)
  • Eric Securities, Corp. (CRD#:7149)
  • Investors Brokerage Services. (CRD#:4257)
  • John Hancock Distributors (CRD#:468)

Kurta Law Can Help

If you have worked with Richard Braverman and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.